The #1 Pricing Mindset Block Everyone is Guilty Of

“We look at our pricing and say - what can everyone else afford - that’s what I’m going to charge.”

I have no idea what you can afford, because I don’t have a crystal ball into your bank account. So, when it comes to setting my pricing, that’s not even part of the equation when determining the cost of a new coaching program or my rates when an interested company wants to collaborate with me. It wasn’t always this way though, especially when I first started Mint Worthy. I shake my head thinking about what I used to charge for one on one time with me - really, it was embarrassingly low.

When I set my prices early on, my standard was to try and figure out what my clients could afford, or if I was in a similar situation, what I would be able to afford. I wanted to help women live big audacious dreams but these women were also in debt. I felt I was almost doing them a favour by offering my services at a lower cost, thinking no one would be able to afford what I actually wanted to charge - what my time was actually worth.

And that is the #1 mindset block to pricing: Wanting to charge what “OTHERS” can afford.

When you live from this limiting belief, you block your own bank account and fall short of your wildly ambitious revenue goals. Not to mention how it also causes you to build a business that merely survives instead of thrives. Charge your worth. Period. The End. It really is that simple. Because when you do, you will have the money to pay yourself consistently, provide more for your family and live the lifestyle you imagined your business would create. Trust me, your business, bank account and future dreams will thank you.

“You never really know what others can afford - you are making that price up in YOUR mind or making it based on what YOU can afford.”

— Vanessa Bowen

Anyone can be a "Jenny who pinches her pennies"

A Jenny who pinches her pennies is someone who absolutely has the money to pay for something but loves to negotiate a deal to save a buck. It could simply be for the thrill of the negotiation or it could be because she has never paid full price in her life and definitely isn’t starting now. I once had a client who did just that. After sharing my rates, she easily said she could not afford my coaching. I thanked her for her time and said maybe one day in the future things will align. Several days later she signed up for my coaching program AND paid in full. A few weeks into the program, I was made privy to her savings account and boy was I shocked to learn that she absolutely had enough, in fact more than enough to pay for my services. You will come across a lot of “Jenny’s” in your business and it’s your job to stand by your worth. Know and believe that you WILL attract the clients who can and will pay your worth.

What you charge is what you attract

Charging what others can afford and NOT your worth means you attract clients that are on that level (OR lower). You didn’t start a business to be broke, and you also didn’t start a business to attract anyone other than your ideal client. If you are a social entrepreneur, this isn’t something that you should feel guilty for thinking or feeling. Reality is that you are offering your services as a way to not only help people but ALSO make money and yes the two can cohabitate in your business plan. You can charge your worth, attract the clients that will pay your prices but also generate revenue to provide free offers for those that may not be able to afford your services right now. To think that it has to be one or the other is a mindset block and it can leave, thank you very much.

Stop playing small

When you don’t charge your true worth you play small and every time you play small, you rob yourself and the world of seeing the light and impact you are capable of. Your financial identity, having a mindset of “charging what others can afford” and thinking you must serve or be available to everyone are just some of the mindset blocks that come up when trying to determine your pricing. You can sit and project a price that you think will align with everyone but what happens as a result is you become unaligned from your worth, you undercharge and end up building a mediocre bank account. And with any or all of these, you don’t attract the clients that you desire. Elevate your vibration to be on the same frequency as your ideal client and charge what they can afford.